I mean, Ive been begging for a new media and gaming mode since the failed Windows XP Media Center Edition.
Came here just to say something similar.
"Going FOSS really whips the llamas ass!"
I used to game a lot on a desktop, but now that I work at home, I kinda hate sitting in front of a PC. I wasnt playing a lot, but then got a steam deck at launch, and now I'm gaming a ton again.
I like the switch, but I really like how backwards compatible PC gaming is.
Always worth mentioning the free version of davinci resolve. It's feature complete for your described needs, doesn't hassle with things like watermarks, and the tools are great if you ever need to step up to something a little more robust.
And for how expensive portable consoles can be, I'm not calling anything a "steam deck killer" until I'm also confident it can be repaired and upgraded for years after I buy it.